Bear Stearns analyst touted IPO after Wall St. deal

A Bear Stearns analyst appeared in a video promoting the initial public offering of IPayment, the Wall Street Journal reported in its online edition Monday. The appearance came just days after a $1.4 billion settlement was reached between brokerage houses and securities regulators. Analyst promotions of IPOs are barred under terms of the settlement which sought to resolve claims of investor fraud by Wall Street's top firms during the investment bubble of the late 1990s. Bear Stearns
BSC, -3.18%
delayed the IPayment
ipmt
IPO, which had been scheduled for Friday, and apologized to the SEC and the New York Attorney General's office, which brokered the settlement, the report said.

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